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BEVs on the way up, PHEVs on the way down
Plugin vehicle registrations were up 4% year over year (YoY) in May, ending the month at around 1.7 million units. Interestingly, BEVs (+15% YoY) and PHEVs (-15% YoY) had opposite performances, with pure electrics firm in double-digit growth while plugin hybrids remained in the red. This is the first time since 2019 that PHEVs remained in the red for five consecutive months.
This meant that, while the plugin YTD numbers are barely positive (+2% YoY), that is solely due to the PHEV blues (-11% YoY). BEVs are on their way back to normal (+9%).
And the different dynamics between pure electrics and plugin hybrids are reflected in the BEV vs. PHEV share of plugin sales — in May, BEVs represented 71% of all plugin sales, or about 1.2 million units, one of the best results of the past few years. That led the YTD breakdown to be 70% vs. 30% in favour of pure electrics, which is touching the ceiling of BEV share of the past 12 years. Since 2014, BEVs have floated between 70% and 50% of the total plugin share.
